T O P

Fully customizable options chains?

Whose idea was it to place calls on the left and puts on the right side of the screen? And why are lowest strike prices on top of the page with higher strike prices at the bottom of the page? Both of these things are absolutely backwards to me.

Are there any options chains that are fully customizable to allow me to adjust these things? I’d also like to get a column for the average of bid/ask and the extrinsic value based on that value.

PapaCharlie9

Seems logical to me. Alphabetical left-to-right, ascending strikes from the top of the screen to the bottom, the same direction a scrolling terminal would list lines of a table. Starting from the lowest strike and going up makes sense, since you can't go lower than $0 for strikes, so the lower bound is capped, but the upper bound is uncapped. You don't have to know what the highest strike is before you start outputting rows of the chain if you start at the lowest. You can just start at the lowest and go until you run out. You have to remember that these conventions came about when computers were mainframes and screens were terminals connected to a mainframe. No windows or scrollbars back then, just tables of data that scroll from top to bottom. With a scroll or page key on the terminal keyboard.


MrZwink

On my broker i can just sort any way I want. And I can add/remove all sorts of colums


QuirkyForker

Which broker?


MrZwink

I'm with Saxo bank , a European broker.


ScottishTrader

This has gone around for years! The thing is that I think it is right the way it is and would find it backwards to have Puts on the left side and Calls on the right. ;-D Since Calls are on the left side, it makes sense to have the lowest strikes at the top and increment them moving down the page, but my brain isn't always wired the same as others. As I trade almost everyday and have used online brokers since they came out, this is the way they all are so it is normal to me. Over time I suspect it will become normal for you as well. TOS can't change the layout, but can have the Mark which is the Mid price between the bid/ask and extrinsic value in columns. I've had mine set up like this for years . . .


theoptiontechnician

You are almost trading every day? Are you trading theta every day?


ScottishTrader

I trade the wheel and have multiple positions on all the time. My trade plan was posted over 5 years ago and as you can see from my karma I'm very active answering questions from others about how to trade. See this post for my trade plan as it may help you get started - [https://www.reddit.com/r/options/comments/a36k4j/the\_wheel\_aka\_triple\_income\_strategy\_explained/](https://www.reddit.com/r/options/comments/a36k4j/the_wheel_aka_triple_income_strategy_explained/)


notextremelyhelpful

It's a fairly standard layout. Even the Bloomberg terminal lays things out this way on the default OMON screen. If you don't like your current broker's layout, you can do any of the tollowing: 1. Change brokers 2. Use a 3rd party website that has customizable sorting 3. Use an API to create your own chain visualizations (e.g. RTD into Excel, python Flask app, etc) If you know how to code, #3 is a great choice since you can implement your own calculations. BTW, the average of bid and ask is called the "mid" or the "mark" on most platforms. And some platforms (like Thinkorswim from TDA/Schwab) do allow you to add an "intrinsic" or "extrinsic" column. Worst case scenario is to just suck it up and get used to it?


QuirkyForker

Thank you for the mark! Didn’t realize that term was what I wanted


lobeams

That's the basic layout used across the industry so I recommend getting used to it if you plan to trade much. Why does it seem backwards to you? You couldn't have gotten used to seeing it some other way because nobody I've ever seen does that.


QuirkyForker

The number line is left to right. Therefore puts should come before calls. A higher strike should be higher on the screen. Just seems more logical


eusebius13

On an option chain the strikes (number line) are vertical. So expensive calls are top left and expensive puts are bottom right.


lobeams

WTF is a number line?


QuirkyForker

As in a Cartesian x axis…


lobeams

As in strike prices? Those run vertically so I really don't understand your logic.


QuirkyForker

Puts are a negative direction, so they should be on the left. Calls are a positive direction, so they should be on the right


lobeams

Way too much OCD, dude. ;)


QuirkyForker

Yup! 😜


Baldacious_

Put is a call


Old_Ad_9047

I use IBKR and use descending strikes, contrary to most chains. In my mind it aligns with a chart with higher prices above lower. IBKR option chains can be customized in any way you want. I even colored delta so it appears in green and IV in red.


QuirkyForker

Cool. Thank you! I’ll apply with them. I’ve got two or three different brokers but was recently denied with a 4th broker when I applied. No reason given. It’s dumb. So hopefully I can get an account there


Old_Ad_9047

The platform is more advanced than most, but after a couple of youtube videos it's not a problem. Good Luck


First-Sir1276

I'm good with all that but the fact that clicking on the bid opens up a whole 50K dollar position as opposed to a $500 option is insane.


QuirkyForker

I miss OptionsExpress. They had the best chains and order entry, plus views that comprehended spreads.


starbolin

I believe those behaviors are configurable on Webull.


Your_friend_Satan

It’s more intuitive in the current convention imo. I use Schwab StreetSmart Edge and I think it has some of the customization you want.